Public Employees Retirement System of Ohio Purchases Shares of 60,519 Sapiens International Co. (NASDAQ:SPNS)

Public Employees Retirement System of Ohio purchased a new stake in shares of Sapiens International Co. (NASDAQ:SPNS) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 60,519 shares of the technology company’s stock, valued at approximately $2,255,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. National Bank of Canada FI acquired a new stake in Sapiens International in the 3rd quarter valued at approximately $26,000. Summit Securities Group LLC bought a new stake in shares of Sapiens International during the second quarter valued at about $34,000. Financial Management Professionals Inc. lifted its holdings in Sapiens International by 57.9% in the third quarter. Financial Management Professionals Inc. now owns 1,945 shares of the technology company’s stock worth $72,000 after purchasing an additional 713 shares during the period. Morgan Dempsey Capital Management LLC grew its position in Sapiens International by 9.5% in the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 4,206 shares of the technology company’s stock valued at $143,000 after buying an additional 365 shares in the last quarter. Finally, MQS Management LLC acquired a new position in Sapiens International during the 3rd quarter valued at about $230,000. 30.73% of the stock is currently owned by institutional investors and hedge funds.

Sapiens International Stock Performance

SPNS opened at $28.59 on Wednesday. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.04. The firm has a market cap of $1.60 billion, a PE ratio of 22.51 and a beta of 1.15. The business has a fifty day simple moving average of $32.33 and a 200-day simple moving average of $34.53. Sapiens International Co. has a fifty-two week low of $26.34 and a fifty-two week high of $41.22.

Sapiens International (NASDAQ:SPNS) last issued its quarterly earnings results on Monday, November 11th. The technology company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). Sapiens International had a return on equity of 17.61% and a net margin of 13.23%. The company had revenue of $137.00 million during the quarter, compared to analysts’ expectations of $140.10 million. During the same period in the prior year, the business posted $0.32 EPS. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, equities analysts predict that Sapiens International Co. will post 1.42 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Needham & Company LLC decreased their price objective on shares of Sapiens International from $44.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. StockNews.com cut Sapiens International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 19th. Barclays cut their price objective on Sapiens International from $38.00 to $30.00 and set an “underweight” rating for the company in a report on Tuesday, November 12th. Finally, William Blair reaffirmed a “market perform” rating on shares of Sapiens International in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $36.00.

About Sapiens International

Sapiens International Corporation N.V. provides software solutions for the insurance industry in North America, the United Kingdom, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company provides various solutions for property and casualty commercial and personal lines, life and pensions, and reinsurance fields.